FIDIC 2017 · FIDIC 14.8
prime lending rate
A plain name, not a contract term, for the average short-term rate banks charge prime borrowers. By default Red Book financing charges run at 3% above it.
On the Aldermere project
The Aldermere Red Book Contract Data sets no rate, so financing charges run at the default.
Lessons that teach this
- When payment is lateWhen payment is lateNEC4 vs FIDIC 2017 · Module 3 · 6 min Members
Where you meet it
- Module 3: Getting paidNEC4 vs FIDIC 2017